MGT 430 Chapter 1 Asignemnt

Which of the following is a good example of a system, since removing one part will cause the entire system to stop working? Groceries A car engine A #2 pencil Clothing

A car engine

Select the two benefits a business that sold hamburgers would experience if it could produce a hamburger with less expensive inputs or produce more hamburgers with the same inputs. A likely increase in profits A likely decrease in profits Rise in productivity Fall in productivity

A likely increase in profits Rise in productivity

Select the three departments found in a typical company.

Accounting Sales Human resources

__________ is the science of fact-based decision making. Reporting Variables Analytics

Analytics

Which of the following are examples of information as opposed to data? (Select all that apply.) Best customer Customer number Quantity ordered Worst-selling product Best-selling product

Best customer Worst-selling product Best-selling product

________ analytics is the scientific process of transforming data into insight for making better decisions. Organization Business Company Facts

Business

What is the scientific process of transforming data into insight for making better decisions? Business knowledge Business facts Business intelligence Business analytics

Business analytics

How will a business estimate the impact on profits from increases or decreases in costs? By knowledge workers mining the Internet By engaging in systems thinking By manipulating variables

By manipulating variables

How will a business estimate the impact on profits from increases or decreases in costs? By knowledge workers mining the Internet By manipulating variables By engaging in systems thinking

By manipulating variables

What are the raw facts that describe the characteristics of an event or object? Variables Knowledge Digital Data

Data

Select the four core drivers of the information age. Digital information, business integration, processes, theories Facts, people, processes, business Facts, variables, processes, business Data, information, business intelligence, knowledge

Data, information, business intelligence, knowledge

Which statement accurately describes the relationships between departments in a company for making solid business decisions for the company to operate as a whole? Departments are interdependent and need data from other departments Departments operate in a silo and should avoid being influenced by data from other departments Departments operate independently and do not need data from other departments

Departments are interdependent and need data from other departments

What uses techniques that describe past performance and history? Predictive analytics Descriptive analytics Prescriptive analytics

Descriptive analytics

Human resources

Employee data Maintains policies, plans, and procedures for the effective management of employees.

What is information that returns to its original transmitter (input, transform, or output) and modifies the transmitter's actions? Systems Productivity Feedback

Feedback

Knowledge

Given the unexpected financial issues caused by the storms and the interest rate hike we will offer a discount on purchase in November and December to ensure sales levels increase by 10 percent.

________ are material products that customers will buy to satisfy a want or need. Service Goods Outputs Inputs

Goods

Data

I have one item.

What age are we currently living in when infinite quantities of facts are widely available to anyone who can use a computer? Fact age Management age Knowledge age Information age

Information age

What are the two primary resources knowledge workers use to make decisions? Information and intuition Accounting and weather information Human resources and weather information

Information and intuition

What is the primary difference between information and business intelligence? BI primarily focuses on internal variables. Information manipulates multiple variables including both internal and external variables. Information primarily focuses on internal variables. BI manipulates multiple variables including both internal and external variables.

Information primarily focuses on internal variables. BI manipulates multiple variables including both internal and external variables.

Finance

Investment data. Deals with strategic financial issues including money, banking, credit, investments, and assets.

What includes the skills, experience, and expertise, coupled with information and intelligence, that creates a person's intellectual resources? Information Facts Data Knowledge

Knowledge

________ workers are individuals valued for their ability to interpret and analyze information. Business Knowledge Process Fact

Knowledge

What are the human, structural, and recorded resources available to the organization? Knowledge facilitators Knowledge assets Knowledge workers

Knowledge assets

What is a business function that moves information about people, products, and processes across the company to facilitate decision making and problem solving? Accounting and finance Human resources Management information systems Operations management

Management information systems

What is a business function that moves information about people, products, and processes across the company to facilitate decision making and problem solving? Human resources Operations management Management information systems Accounting and finance

Management information systems

Operations management

Manufacturing data. Manages the process of converting or transforming resources into goods or services.

Which of the following are confirmed or validated with a fact? Object Event Dream

Object Event

Sales

Potential customer data. Performs the function of selling goods or services.

What uses techniques that create models indicating the best decision to make or course of action to take? Predictive analytics Descriptive analytics Prescriptive analytics

Prescriptive analytics

What are the three categories of analytics? Data analytics History analytics Prescriptive analytics Descriptive analytics Predictive analytics Variable analytics

Prescriptive analytics Descriptive analytics Predictive analytics

What is the rate at which goods and services are produced based upon total output given total inputs? Production Productivity System Input

Productivity

What is the rate at which goods and services are produced based upon total output given total inputs? Productivity System Input Production

Productivity

Marketing

Promotion data. Supports sales by planning, pricing, and promoting goods or services.

What are tasks performed by people that customers will buy to satisfy a want or need? Goods Production Systems Services

Services

Feedback is information that returns to its original transmitter (input, transform, or output) and modifies the transmitter's actions. What does feedback help the system maintain? Process Goods Services Stability

Stability

What is a way of monitoring the entire system by viewing multiple inputs being processed or transformed to produce outputs while continuously gathering feedback on each part? Management information systems Systems thinking Production process

Systems thinking

What is a way of monitoring the entire system by viewing multiple inputs being processed or transformed to produce outputs while continuously gathering feedback on each part? Production process Management information systems Systems thinking

Systems thinking

What provides an end-to-end view of how operations work together to create a product or service? Systems thinking Management information systems Production process

Systems thinking

Information

The item I have is a product that has the most sales during the month of December.

Business Intelligence

The month of December this year is going to see interest rates raise by 10 percent and snow storms are expected to cause numerous problems throughout the East coast.

Accounting

Transactional data. Records, measures, and reports monetary transactions.

True or false: A snapshot is a view of data at a particular moment in time. True False

True

True or false: Before the information age, managers manually collected and analyzed data, a time-consuming and complicated task without which they would have little insight into how to run their business. True False

True

True or false: The value of information is only as good as the people who make use of the information. True False

True

True or false: A dynamic report changes automatically during creation. Dynamic reports can include updating daily stock market prices or the calculation of available inventory. True False

True Reason: A dynamic report changes automatically during creation. Dynamic reports can include updating daily stock market prices or the calculation of available inventory.

True or false: A report is a document containing data organized in a table, matrix, or graphical format allowing users to easily comprehend and understand information. True False

True Reason: A report is a document containing data organized in a table, matrix, or graphical format allowing users to easily comprehend and understand information.

Select three examples of services. Waiting tables Teaching Groceries Cutting hair

Waiting tables Teaching Cutting hair

Select the question that can be answered using only raw data. What is the lowest sales per week compared with the economic interest rates? What is the date, amount sold, and customer number for a sale transaction? Which of the perishable items used by a restaurant should be ordered first?

What is the date, amount sold, and customer number for a sale transaction?

Select the question that can be answered using only raw data. What is the lowest sales per week compared with the economic interest rates? Which of the perishable items used by a restaurant should be ordered first? What is the date, amount sold, and customer number for a sale transaction?

What is the date, amount sold, and customer number for a sale transaction?

Knowledge facilitators help harness the wealth of knowledge in the organization. Knowledge facilitators help acquire and catalog the knowledge __________ in an organization. intelligence workers assets managers

assets

A(n) _______ unit is a segment of a company representing a specific business function. business finance customer

business

What is a segment of a company representing a specific business function? information silo business unit dynamic report business intelligence

business unit

What is a segment of a company representing a specific business function? information silo dynamic report business unit business intelligence

business unit

Which of the following are types of human-generated structured data? point-of-sale data web log data click-stream data gaming data input data

click-stream data gaming data input data

In analyzing a business, the characteristics of an individual sale, such as the order date, are best referred to as ______. information business intelligence data knowledge

data

A(n) ________ is the confirmation or validation of an event or object. fact information knowledge

fact

What is data that humans, in interaction with computers, generate? human-generated data big data machine-generated data

human-generated data

What occurs when one business unit is unable to freely communicate with other business units making it difficult or impossible for organizations to work cross-functionally? information silo business unit systems thinking accounting department

information silo

Which type of data is created by a machine without human intervention? human-generated data snapshot big data machine-generated data

machine-generated data

Which of the following terms is commonly associated with the Internet of Things? analytics dynamic report behavioral analytics machine-to-machine (M2M)

machine-to-machine (M2M)

A big part of business intelligence is called _______ analytics, which extracts information from data and uses it to predict future trends and identify behavioral patterns. predictive descriptive prescriptive

predictive

The impact of information technology on the global business environment is equivalent to the printing press's impact on _____ and electricity's impact on productivity. publishing products presentation

publishing

Productivity is the ______ at which goods and services are produced based upon total output given total inputs. input output rate process

rate

Productivity is the ______ at which goods and services are produced based upon total output given total inputs. rate output process input

rate

An information __________ occurs when one business unit is unable to freely communicate with other business units making it difficult or impossible for organizations to work cross-functionally. variable report silo

silo Reason: An information silo occurs when one business unit is unable to freely communicate with other business units making it difficult or impossible for organizations to work cross-functionally.

What is a view of data at a particular moment in time? big data analytics behavioral analytics snapshot

snapshot

A(n) __________ report is created once based on data that does not change. These reports can include a sales report from last year or salary report from five years ago. dynamic null static

static

What is a report that is created once based on data that does not change? big data report dynamic report static report

static report

What is a report that is created once based on data that does not change? dynamic report static report big data report

static report

What is typically stored in a traditional system such as a relational database or spreadsheet and accounts for about 20 percent of the data that surrounds us. facts big data structured data Internet of Things

structured data

A variable is a data characteristic that stands for a value that changes or varies over __________. process time business

time

What type of data is not defined and does not follow a specified format and is typically free-form text such as emails, Twitter tweets, and text messages? unstructured data snapshot data structured data big data

unstructured data

The Internet of Things (IoT) is a world where interconnected Internet-enabled devices or "things" have the ability to collect and share data __________ human intervention. without with

without